Canada is publishing New Housing Price Index MoM and YoY and the US will release Import and Export Prices MoM and Initial Jobless Claims.
The pair is finding support at 1.25540 with resistance at 1.26100 which both lines are below the weekly pivot point at 1.28170. The EMA of 10 is moving with bearish bias in the descendant channel and it is located below the EMA of 200 and the EMA of 100. The RSI is moving in oversold area, the MACD line is below the signal line in the neutral territory and the Stochastic is moving in middle ranges. The ADX is not showing any clear signals. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen is showing a downward trend while the Kijun-sen is showing a horizontal trend.
Short positions are recommended towards 1.245.

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